Relationship marketing with the Internet Relationship marketing is all about keeping the customer for the long-term. The life time value the customer has to offer. Traditionally offline the firm would develop a number of strategies to try to get the customer coming back to their store‚ this could range from having a customer services desk to making sure staff are skilled. These strategies have evolved for the online world‚ and it is has become a challenge to try to make customers visit and purchase
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nature and firms are able to derive cost benefits by outsourcing these activities to companies that are able to leverage economies of scale and domain expertise to provide superior value and cost benefit to the parent firm. Some of the core areas that are still seen as possible differentiators in HR are policy making‚ performance management‚ compensation management‚ etc. These are seen as functions that can add value to the entire firm and help it derive competitive advantage over other firms. HR is
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The internal environment: * Strategic competitiveness and above – Average returns result when Internal organization (What a firm can do : function of resources‚ capabilities‚ and core competencies) matches External environment ( What a firm might do : function of opportunities in the firm’s external environment → Competitive Advantage * Competitive advantage key points: * No competitive advantage lasts forever. * Over time‚ rival use their own unique resources‚ capabilities‚ and
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competitiveness depends on the capacity of its industry to innovate and upgrade. They benefit from having strong domestic rivals‚ aggressive home based suppliers and demanding local customers. Innovation is what drives and sustains competitiveness. A firm must avail itself to all dimension of competition‚ which he categorized into four major components of the “diamond of national advantage” 1. Factor Conditions: The appropriateness of the nations factors of production to compete successfully in
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stay competitive within the automotive market and can be potentially very lucrative and help the firm grow exponentially. This is an incredible opportunity for HS Engineering to reinvent itself as a company and change its culture for the better and setting up the stage for new site in Malaysia. However‚ there are conflicted opinions towards this move within the board of directors‚ as with many firms facing change‚ resistance to change is very normal and to be expected (Coghlan‚ 1993; Steinburg‚ 1992;
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ability to better manage their internal policies and processes‚ organizations may discover that considerable cash flow can be unlocked while making significant difference between failure and survival. The authors highlight six common mistakes that firms commonly make in managing their working capital. In my opinion some of them can be argued. The first issue raised is managing to the income statement. Organizations are suggested not to manage to their income statement‚ as several important cost
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existing market space‚ a firm can position itself for rapid growth‚ profitability‚ and dominant brand equity. While certain organizational traits ease the implementation of blue ocean strategy‚ exceptional resources‚ industry characteristics‚ or new technologies are not required. Rather‚ “blue ocean firms” differ primarily through their rejection of traditional performance metrics‚ methods of innovation‚ market boundaries‚ and value / cost tradeoffs. Examples of such firms exist in financial services
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Nepotism is defined as the granting of favors to relatives without regard to merit. While most non-family owned firms exercise strict policies stressing the prohibition of nepotism‚ the vast majority of family owned businesses are found to have made it common practice to appoint family offspring as successors. In the course of the essay this phenomenon will be discussed critically in terms of firm performance and it will be analyzed when and how a policy of nepotism is favorable or unfavorable. Motivation
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the firm’s linkages with suppliers; operations: manufacturing operations for retailer or service firm (providing products and services); downstream: linkages with customers‚ including delivery‚ service‚ and other related activities (Blocher‚ Stout & Cokins‚ 2010). Rider’s Edge program fits in the Harley-Davidson value chain under the downstream focus on servicing customers. In this program‚ the firm provides a customer service that is unique in the industry and potentially an important way to
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following graph of a monopolistically competitive firm selling DVDs How many DVDs should be sold to rent per day to maximize profit? Briefly explain your answer. The formula is E=MR=MC=P‚ this is the point where they meet and that point where I can tell on the x-axis is 55 DVDs per day. The y-axis is $1.75 per DVD. To maximize profit 55 DVDs need to be sold to rent per day to maximize profit. What is the economic profit for this firm operating where economic profit is maximized?
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